Iron ore prices for November 2, 2018:
Spot down. Paper down more. Steel too. Rebar inventories fell sharply again last week in a normal seasonal pattern. They remain fine.
What is interesting is that the moment markets have rallied on a possible trade deal between the US and China, iron ore has begun to correct. The market is now trading purely on the basis of Chinese corrective stimulus. The worse things get the more iron ore is bid and vice versa.